Owner Scorecard


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Graham's tests

Net-net candidates

Net current asset value: current assets minus every liability, ignoring plant and goodwill. Positive means liquid assets alone could clear all debt with something left for the owner. Whether it trades below that is for the price you bring.

The testNet current asset value (latest annual balance sheet) is positive and at least a tenth of total assets. Ranked by cushion strength.

Graham's practice: he paid no more than about two-thirds of net current asset value, and he held these in wide diversification, dozens at a time, so that no single liquidation had to go well. Each row shows the as-filed components — current assets, total liabilities, diluted shares, the filing year — so the subtraction can be redone by hand.

The price column is yours. Type a price and the row shows it as a percentage of NCAV per share. It is stored only in your browser, per ticker, and it never re-orders or filters the ledger; the list keeps its cushion order no matter what is typed.

773 companies showing the strongest 200 by cushion; the other 573 clear the same test
Company NCAV / share Current assets − Total liabilities = NCAV ÷ Diluted shares Filed Cushion Your price Price / NCAV
NNNN Anbio Biotechnology $0.69 $30M $88K $30M 43.7M 2025 100% of assets $
MFI mF International Limited HK$79.87 HK$4.0B HK$26M HK$4.0B 50.2M 2025 99% of assets HK$
IMSR Terrestrial Energy Inc. Common Stock $4.08 $300M $8M $292M 71.6M 2025 96% of assets $
IMSRW Terrestrial Energy Inc. $4.08 $300M $8M $292M 71.6M 2025 96% of assets $
SGMT Sagimet Biosciences Inc. Series A $3.44 $116M $5M $111M 32.3M 2025 96% of assets $
UPB Upstream Bio Inc. $6.22 $352M $14M $338M 54.3M 2025 95% of assets $
ROMA Roma Green Finance Limited HK$3.08 HK$50M HK$2M HK$48M 15.6M 2025 94% of assets HK$
DPRO Draganfly Inc. C$6.05 C$100M C$5M C$95M 15.7M 2025 94% of assets C$
MBOT Microbot Medical Inc. $1.66 $80M $4M $76M 45.8M 2025 93% of assets $
JANX Janux Therapeutics Inc. $14.86 $976M $45M $931M 62.7M 2025 93% of assets $
RR Richtech Robotics Inc. $1.28 $256M $3M $253M 197.7M 2025 93% of assets $
RLMD Relmada Therapeutics Inc. $2.19 $94M $7M $86M 39.5M 2025 92% of assets $
CD Chaince Digital Holdings Inc. $0.58 $45M $3M $43M 73.8M 2025 91% of assets $
CGON CG Oncology Inc. $8.52 $759M $39M $720M 84.5M 2025 91% of assets $
QBTS D-Wave Quantum Inc. $2.27 $896M $64M $833M 367.5M 2025 91% of assets $
AIOS AIOS Tech Inc. Class A $0.32 $5M $411K $5M 14.7M 2025 91% of assets $
ORBS Eightco Holdings Inc. $0.94 $245M $18M $227M 240.6M 2025 91% of assets $
WLDSW Wearable Devices Ltd. $6.28 $20M $1M $18M 2.9M 2025 91% of assets $
DMAC DiaMedica Therapeutics Inc. $1.18 $61M $5M $55M 47.0M 2025 90% of assets $
IMNM Immunome Inc. $5.41 $661M $49M $612M 113.1M 2025 90% of assets $
BIOA BioAge Labs Inc. $6.21 $287M $23M $264M 42.5M 2025 90% of assets $
RDDT Reddit Inc. $13.95 $3.1B $310M $2.8B 202.5M 2025 87% of assets $
MREO Mereo BioPharma Group plc $0.05 $45M $5M $40M 801.8M 2025 87% of assets $
NXTT Next Technology Holding Inc. $51.03 $524M $69M $456M 8.9M 2025 87% of assets $
DCTH Delcath Systems Inc. $2.97 $120M $12M $107M 36.0M 2025 87% of assets $
IMMP Immutep Limited A$0.09 A$149M A$13M A$136M 1.46B 2025 86% of assets A$
AVIR Atea Pharmaceuticals Inc. $3.33 $311M $40M $271M 81.5M 2025 86% of assets $
LKFT Lakefront Biotherapeutics €44.14 €3.1B €171M €2.9B 65.9M 2025 85% of assets
AZ A2Z Cust2Mate Solutions Corp. $2.33 $79M $7M $72M 30.9M 2025 85% of assets $
SXTC China SXT Pharmaceuticals Inc. $321.10 $35M $5M $29M 92K 2026 85% of assets $
RLAY Relay Therapeutics Inc. $2.91 $578M $54M $524M 179.8M 2025 84% of assets $
PROF Profound Medical Corp. $1.79 $76M $11M $65M 36.3M 2025 84% of assets $
WRD WeRide Inc. CN¥6.0B total CN¥6.6B CN¥682M CN¥6.0B 2024 83% of assets no share count
OSS One Stop Systems Inc. $1.78 $51M $7M $44M 24.7M 2025 83% of assets $
UMAC Unusual Machines Inc. $3.15 $160M $8M $152M 48.1M 2025 83% of assets $
CBIO Crescent Biopharma Inc. $7.24 $237M $37M $199M 27.6M 2025 83% of assets $
ODYS Odysight.ai Inc. $1.46 $28M $4M $24M 16.4M 2025 83% of assets $
LWLG Lightwave Logic Inc. $0.44 $70M $5M $65M 148.1M 2025 82% of assets $
PRTA Prothena Corporation plc $4.97 $315M $46M $269M 54.1M 2025 82% of assets $
CLDX Celldex Therapeutics Inc. $7.19 $535M $56M $479M 66.6M 2025 82% of assets $
MPTI M-tron Industries Inc. $15.69 $61M $5M $56M 3.6M 2025 82% of assets $
PHOE Phoenix Asia Holdings Limited $0.36 $8M $1M $7M 20.0M 2025 82% of assets $
ALMU Aeluma Inc. $0.00 $17M $2M $16M 17.35B 2025 82% of assets $
CRNX Crinetics Pharmaceuticals Inc. $8.78 $1.0B $134M $914M 104.1M 2025 81% of assets $
STTK Shattuck Labs Inc. $0.66 $82M $9M $74M 112.2M 2025 81% of assets $
ABUS Arbutus Biopharma Corporation $0.39 $94M $18M $76M 195.2M 2025 81% of assets $
LAES SEALSQ Corp $3.29 $450M $43M $407M 123.7M 2025 81% of assets $
NXDR Nextdoor Holdings Inc. $1.02 $448M $56M $393M 386.8M 2025 81% of assets $
TUYA Tuya Inc. $913M total $1.0B $110M $913M 2025 81% of assets no share count
INMD InMode Ltd. $9.71 $699M $83M $615M 63.4M 2025 80% of assets $
BCYC Bicycle Therapeutics plc $8.26 $683M $108M $575M 69.7M 2025 80% of assets $
ATOM Atomera Incorporated $0.48 $20M $3M $17M 35.3M 2025 80% of assets $
UROY Uranium Royalty Corp. C$1.87 C$238M C$1M C$237M 126.8M 2025 80% of assets C$
ALT Altimmune Inc. $1.79 $278M $55M $223M 124.5M 2025 80% of assets $
VRDN Viridian Therapeutics Inc. $7.04 $894M $177M $717M 101.8M 2025 80% of assets $
YALA Yalla Group Limited $9.68 $796M $86M $710M 73.4M 2025 79% of assets $
PHUN Phunware Inc. $4.74 $120M $25M $96M 20.2M 2025 79% of assets $
ASMB Assembly Biosciences Inc. $12.05 $255M $51M $204M 16.9M 2025 79% of assets $
AMBQ Ambiq Micro Inc. $7.14 $168M $22M $146M 20.4M 2025 79% of assets $
PTGX Protagonist Therapeutics Inc. $7.43 $578M $53M $524M 70.5M 2025 78% of assets $
ALAB Astera Labs Inc. $6.59 $1.4B $168M $1.2B 181.2M 2025 78% of assets $
GRVY GRAVITY CO., LTD. ₩534.8B total ₩653.6B ₩118.8B ₩534.8B 2024 78% of assets no share count
OCUL Ocular Therapeutix Inc. $2.80 $782M $154M $628M 224.1M 2025 78% of assets $
ACOG Alpha Cognition Inc. $2.82 $79M $17M $62M 21.9M 2025 78% of assets $
WVE Wave Life Sciences Ltd. $2.47 $615M $120M $495M 200.2M 2025 77% of assets $
MAZE Maze Therapeutics Inc. $7.16 $350M $42M $308M 43.0M 2025 77% of assets $
BLSH Bullish $23.99 $3.8B $740M $3.1B 127.7M 2025 77% of assets $
CRDO Credo Technology Group Holding Ltd $9.40 $2.0B $232M $1.8B 188.2M 2026 77% of assets $
PLTR Palantir Technologies Inc. $2.66 $8.4B $1.5B $6.8B 2.57B 2025 77% of assets $
NAMS NewAmsterdam Pharma Company N.V. $4.85 $676M $86M $590M 121.7M 2025 77% of assets $
NAMSW NewAmsterdam Pharma Company N.V. $4.85 $676M $86M $590M 121.7M 2025 77% of assets $
TNGX Tango Therapeutics Inc. $2.10 $354M $53M $301M 143.6M 2025 76% of assets $
SVRA Savara Inc. $0.86 $242M $50M $191M 222.4M 2025 75% of assets $
SI Shoulder Innovations Inc. $6.20 $157M $29M $128M 20.7M 2025 75% of assets $
CBLL CeriBell Inc. $3.88 $187M $40M $146M 37.7M 2025 75% of assets $
EYPT EyePoint Inc. $3148.55 $329M $58M $271M 86K 2025 74% of assets $
UZX Linkage Global Inc. $0.73 $21M $5M $16M 21.5M 2025 74% of assets $
PLSE Pulse Biosciences Inc Common Stock (DE) $1.02 $83M $14M $70M 68.0M 2025 74% of assets $
ACHR Archer Aviation Inc. $2.36 $2.1B $263M $1.8B 766.9M 2025 74% of assets $
SMR NuScale Power Corporation $3.22 $1.3B $244M $1.0B 319.7M 2025 73% of assets $
RCAT Red Cat Holdings Inc. $1.65 $227M $28M $199M 120.8M 2025 73% of assets $
CRSP CRISPR Therapeutics AG $17.10 $2.0B $343M $1.6B 96.1M 2025 72% of assets $
FBRX Forte Biosciences Inc. $4.54 $81M $22M $59M 12.9M 2025 71% of assets $
CRON Cronos Group Inc. Common Share $2.20 $944M $103M $841M 381.8M 2025 70% of assets $
RDCM Radcom Ltd. $6.13 $133M $31M $102M 16.6M 2025 70% of assets $
DNTH Dianthus Therapeutics Inc. $7.74 $409M $38M $372M 48.0M 2025 70% of assets $
PERF Perfect Corp. Class A Ordinary Share $1.32 $173M $39M $134M 101.8M 2025 70% of assets $
ATAI AtaiBeckley Inc. $0.57 $276M $71M $205M 357.4M 2025 70% of assets $
ROIV Roivant Sciences Ltd. $5.74 $5.2B $1.2B $4.0B 693.9M 2026 70% of assets $
KRNT Kornit Digital Ltd. $11.93 $596M $58M $538M 45.1M 2025 70% of assets $
DJCO Daily Journal Corp. (S.C.) $277.36 $539M $157M $382M 1.4M 2025 70% of assets $
VEEV Veeva Systems Inc. $37.55 $8.0B $1.8B $6.2B 166.0M 2026 69% of assets $
BEAM Beam Therapeutics Inc. $9.93 $1.3B $243M $1.0B 103.3M 2025 69% of assets $
HTT High Templar Tech Limited CN¥118.67 CN¥11.4B CN¥2.0B CN¥9.4B 79.3M 2025 69% of assets CN¥
TALK Talkspace Inc. $0.56 $111M $18M $93M 167.1M 2025 69% of assets $
BBNX Beta Bionics Inc. $5.10 $268M $41M $227M 44.4M 2025 69% of assets $
BETA Beta Technologies Inc. $6.32 $1.7B $288M $1.5B 229.6M 2025 69% of assets $
NNDM Nano Dimension Ltd. $2.12 $526M $86M $440M 207.5M 2025 69% of assets $
QUBT Quantum Computing Inc. $4.97 $1.1B $21M $1.1B 224.0M 2025 69% of assets $
DOCS Doximity $3.88 $944M $173M $771M 199.0M 2026 69% of assets $
KRYS Krystal Biotech $29.84 $1.0B $114M $910M 30.5M 2025 68% of assets $
NSPR InspireMD Inc. $0.56 $61M $14M $47M 83.8M 2025 68% of assets $
ARCT Arcturus Therapeutics Holdings Inc. $6.48 $241M $57M $184M 28.4M 2025 68% of assets $
PKE Park Aerospace Corp. $4.62 $109M $12M $96M 20.9M 2026 68% of assets $
YB Yuanbao Inc. CN¥29.43 CN¥4.5B CN¥1.3B CN¥3.1B 107.0M 2025 68% of assets CN¥
CPRX Catalyst Pharmaceuticals Inc. $5.87 $894M $150M $744M 126.9M 2025 67% of assets $
ERII Energy Recovery Inc. $2.96 $181M $25M $156M 52.7M 2025 67% of assets $
NSSC NAPCO Security Technologies Inc. $3.70 $162M $30M $133M 35.9M 2025 67% of assets $
AI C3.ai Inc. $3.88 $708M $163M $545M 140.5M 2026 67% of assets $
XZO Exzeo Group Inc. $2627.63 $326M $94M $232M 88K 2025 67% of assets $
TSHA Taysha Gene Therapies Inc. $0.62 $325M $96M $228M 366.6M 2025 66% of assets $
NRIX Nurix Therapeutics Inc. $4.14 $607M $149M $457M 110.6M 2025 66% of assets $
SLGL Sol-Gel Technologies Ltd. $7.13 $27M $7M $20M 2.8M 2025 66% of assets $
BMR Beamr Imaging Ltd. Ordinary Share $0.71 $12M $965K $11M 15.5M 2025 66% of assets $
PLUT Plutus Financial Group Limited HK$5.14 HK$111M HK$32M HK$79M 15.3M 2025 66% of assets HK$
ABEO Abeona Therapeutics Inc. $2.55 $205M $60M $145M 56.6M 2025 66% of assets $
SLDB Solid Biosciences Inc. $1.75 $205M $53M $153M 87.5M 2025 66% of assets $
CNTB Connect Biopharma Holdings Limited $0.65 $51M $14M $37M 56.5M 2025 66% of assets $
AMRN Amarin Corporation plc $1.05 $650M $211M $438M 419.1M 2025 65% of assets $
VICR Vicor Corporation $10.86 $587M $74M $513M 47.3M 2025 65% of assets $
DSWL Deswell Industries Inc. $4.92 $96M $18M $78M 15.9M 2025 65% of assets $
HNST The Honest Company Inc. $1.30 $202M $56M $147M 112.8M 2025 65% of assets $
SIBN SI-BONE Inc. $3.53 $216M $61M $155M 44.0M 2025 65% of assets $
COGT Cogent Biosciences Inc. $4.73 $910M $301M $609M 128.9M 2025 65% of assets $
CV CapsoVision Inc. $0.25 $17M $5M $12M 47.5M 2025 65% of assets $
ATGL Alpha Technology Group Limited HK$1.37 HK$33M HK$10M HK$23M 16.4M 2025 65% of assets HK$
AGIO Agios Pharmaceuticals Inc. $14.26 $942M $104M $838M 58.8M 2025 65% of assets $
OMDA Omada Health Inc. $3.35 $273M $76M $197M 58.9M 2025 65% of assets $
BLLN BillionToOne Inc. $7.69 $561M $153M $408M 53.0M 2025 64% of assets $
ZH Zhihu Inc. CN¥56.88 CN¥4.7B CN¥1.4B CN¥3.3B 58.8M 2025 64% of assets CN¥
BZ KANZHUN LIMITED CN¥158.05 CN¥20.4B CN¥4.5B CN¥15.8B 100.1M 2025 64% of assets CN¥
WILC G. Willi-Food International Ltd. ₪33.31 ₪528M ₪65M ₪463M 13.9M 2025 64% of assets
ELMD Electromed Inc. $3.98 $45M $11M $34M 8.7M 2025 64% of assets $
DBVT DBV Technologies S.A. $0.35 $213M $65M $148M 424.6M 2025 63% of assets $
COCO The Vita Coco Company Inc. $4.83 $421M $130M $292M 60.5M 2025 63% of assets $
IXHL Incannex Healthcare Inc. $1.13 $20M $7M $13M 11.5M 2025 63% of assets $
DGXX Digi Power X Inc. $1.21 $95M $11M $84M 69.6M 2025 63% of assets $
SITM SiTime $30.78 $949M $139M $811M 26.3M 2025 63% of assets $
FDMT 4D Molecular Therapeutics Inc. $5.17 $413M $61M $352M 68.1M 2025 62% of assets $
DAVE Dave Inc. $20.97 $437M $135M $302M 14.4M 2025 62% of assets $
LXEO Lexeo Therapeutics Inc. $3.10 $188M $22M $166M 53.6M 2025 62% of assets $
AVTX Avalo Therapeutics Inc. $3.57 $105M $33M $72M 20.1M 2025 62% of assets $
IRMD iRadimed Corporation $5.21 $81M $14M $67M 12.9M 2025 62% of assets $
MDB MongoDB Inc. $28.30 $3.1B $806M $2.3B 81.6M 2026 61% of assets $
SERV Serve Robotics Inc. $2.98 $241M $17M $224M 75.3M 2025 61% of assets $
CHYM Chime Financial Inc. $2.98 $1.8B $563M $1.2B 400.5M 2025 61% of assets $
PRCT PROCEPT BioRobotics Corporation $5.45 $450M $142M $308M 56.5M 2025 61% of assets $
CTMX CytomX Therapeutics Inc. $0.52 $144M $53M $91M 177.3M 2025 60% of assets $
GDYN Grid Dynamics Holdings Inc. $4.35 $440M $71M $369M 84.7M 2025 60% of assets $
CGEN Compugen Ltd. $1.00 $148M $54M $94M 94.6M 2025 60% of assets $
PONY Pony AI Inc. $2.87 $1.3B $161M $1.1B 379.9M 2025 60% of assets $
RUM Rumble Inc. $0.78 $265M $62M $203M 261.1M 2025 60% of assets $
RUMBW Rumble Inc. $0.78 $265M $62M $203M 261.1M 2025 60% of assets $
YSXT YSX Tech. Co. Ltd $1.37 $54M $21M $33M 24.1M 2026 60% of assets $
CEVA Ceva, Inc. $8.42 $285M $52M $233M 27.7M 2025 60% of assets $
HCM HUTCHMED (China) Limited $1.21 $1.6B $515M $1.1B 872.9M 2025 60% of assets $
EVMN Evommune Inc. $3.98 $153M $19M $134M 33.7M 2025 60% of assets $
USLM United States Lime & Minerals Inc. $14.08 $455M $50M $405M 28.8M 2025 59% of assets $
NPK National Presto Industries Inc. $41551.75 $403M $106M $297M 7K 2025 59% of assets $
SPHL Springview Holdings Ltd S$0.55 S$10M S$4M S$6M 11.5M 2025 59% of assets S$
JOBY Joby Aviation Inc. $1.12 $1.4B $385M $1.1B 943.5M 2025 59% of assets $
CTKB Cytek Biosciences Inc. $2.11 $392M $120M $272M 128.7M 2025 59% of assets $
ADUR Aduro Clean Technologies Inc. C$0.25 C$9M C$1M C$8M 29.6M 2025 59% of assets C$
MRAM Everspin Technologies Inc. $2.14 $65M $16M $49M 23.1M 2025 58% of assets $
RSKD Riskified Ltd. $1.52 $356M $116M $240M 157.5M 2025 58% of assets $
PSNL Personalis Inc. $1.87 $268M $73M $195M 104.2M 2025 58% of assets $
SES SES AI Corporation $0.48 $216M $58M $158M 332.8M 2025 58% of assets $
ENLV Enlivex Ltd. $5.69 $1.7B $392M $1.4B 237.4M 2025 58% of assets $
ARVN Arvinas Inc. $6.51 $701M $284M $417M 64.0M 2025 58% of assets $
CNXN PC Connection Inc. $30.86 $1.2B $441M $780M 25.3M 2025 58% of assets $
UTSI UTStarcom Holdings Corp. $3.50 $52M $19M $32M 9.2M 2025 58% of assets $
STOK Stoke Therapeutics Inc. $3.80 $306M $66M $240M 63.1M 2025 57% of assets $
ABSI Absci Corporation $0.80 $150M $27M $123M 153.0M 2025 57% of assets $
MNTN MNTN Inc. $2.71 $286M $73M $214M 78.9M 2025 57% of assets $
ATHM Autohome Inc. CN¥34.38 CN¥21.2B CN¥5.3B CN¥15.9B 463.0M 2025 56% of assets CN¥
KLIC Kulicke and Soffa Industries Inc. $11.68 $902M $283M $619M 53.0M 2025 56% of assets $
MDXG MiMedx Group Inc $1.29 $277M $86M $191M 148.4M 2025 56% of assets $
FN Fabrinet $43.60 $2.4B $850M $1.6B 36.2M 2025 56% of assets $
QTEX QTREX Quantum Ltd. $0.17 $9M $3M $6M 35.9M 2025 56% of assets $
BNR Burning Rock Biotech Limited CN¥453M total CN¥739M CN¥285M CN¥453M 2025 55% of assets no share count
APT Alpha Pro Tech Ltd. $3.96 $53M $12M $41M 10.3M 2025 55% of assets $
ICG Intchains Group Limited CN¥4.61 CN¥603M CN¥43M CN¥560M 121.4M 2025 55% of assets CN¥
LAB Standard BioTools Inc. $0.80 $454M $143M $311M 388.2M 2025 55% of assets $
OUST Ouster Inc. $3.09 $279M $88M $191M 61.8M 2025 55% of assets $
ZBIO Zenas BioPharma Inc. $3.77 $351M $141M $210M 55.6M 2025 55% of assets $
ZM Zoom $21.67 $8.7B $2.2B $6.5B 300.2M 2026 54% of assets $
GMHS Gamehaus Holdings Inc. $0.34 $40M $14M $26M 75.4M 2025 54% of assets $
XFOR X4 Pharmaceuticals Inc. $1.25 $262M $104M $157M 126.3M 2025 54% of assets $
AHMA AMBITIONS ENTERPRISE MANAGEMENT CO. L.L.C $0.29 $11M $3M $8M 28.3M 2025 54% of assets $
TARS Tarsus Pharmaceuticals Inc. $7.08 $523M $219M $304M 43.0M 2025 54% of assets $
NTES NetEase Inc. CN¥37.43 CN¥180.6B CN¥61.1B CN¥119.5B 3.19B 2025 54% of assets CN¥
RMBS Rambus $7.51 $989M $165M $824M 109.7M 2025 54% of assets $
SNT Senstar Technologies Corporation $1.26 $41M $11M $29M 23.3M 2025 54% of assets $
GTLB GitLab Inc. $5.44 $1.7B $732M $924M 169.9M 2026 54% of assets $
TWG Top Wealth Group Holding Limited $0.28 $17M $2M $16M 56.0M 2025 54% of assets $
COUR Coursera Inc. $3.16 $898M $364M $534M 168.7M 2025 53% of assets $
FIGS FIGS Inc. $1.55 $447M $143M $305M 196.1M 2025 53% of assets $
TOST Toast Inc. $2.74 $2.7B $1.0B $1.6B 602.0M 2025 52% of assets $
IDYA IDEAYA Biosciences Inc. $6.54 $667M $86M $580M 88.7M 2025 52% of assets $
KVYO Klaviyo Inc. Series A $2.69 $1.2B $384M $822M 305.8M 2025 52% of assets $

From the company's SEC filings, computed the same way as on its page. NCAV is current assets minus every liability (total assets less equity), from one coherent annual balance sheet. Typed prices live only in this browser's storage and never leave it; ADR rows report in the filing currency shown, so bring the ordinary-share price in that currency.